Russell Investments Group Ltd. raised its stake in SVB Financial Group (NASDAQ:SIVB) by 16.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,838 shares of the bank’s stock after purchasing an additional 5,242 shares during the quarter. Russell Investments Group Ltd. owned 0.07% of SVB Financial Group worth $10,948,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Security National Trust Co. purchased a new stake in shares of SVB Financial Group in the second quarter worth approximately $116,000. Advisors Preferred LLC purchased a new stake in shares of SVB Financial Group in the second quarter worth approximately $167,000. Piedmont Investment Advisors LLC purchased a new stake in shares of SVB Financial Group in the second quarter worth approximately $175,000. Smithfield Trust Co. raised its stake in shares of SVB Financial Group by 2,857.1% in the first quarter. Smithfield Trust Co. now owns 621 shares of the bank’s stock worth $149,000 after purchasing an additional 600 shares during the last quarter. Finally, Point72 Asia Hong Kong Ltd raised its stake in shares of SVB Financial Group by 716.9% in the first quarter. Point72 Asia Hong Kong Ltd now owns 629 shares of the bank’s stock worth $151,000 after purchasing an additional 552 shares during the last quarter. 88.87% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Gregory W. Becker sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $325.40, for a total value of $2,277,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gregory W. Becker sold 12,872 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $310.97, for a total value of $4,002,805.84. Following the completion of the transaction, the insider now directly owns 18,039 shares of the company’s stock, valued at $5,609,587.83. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,372 shares of company stock valued at $6,432,731. 0.74% of the stock is currently owned by corporate insiders.
Several analysts have recently commented on SIVB shares. Jefferies Financial Group reissued a “buy” rating and issued a $360.00 price objective on shares of SVB Financial Group in a research note on Friday, July 27th. Zacks Investment Research raised SVB Financial Group from a “hold” rating to a “buy” rating and set a $346.00 price objective for the company in a research note on Monday, July 23rd. Piper Jaffray Companies reissued a “buy” rating and issued a $384.00 price objective on shares of SVB Financial Group in a research note on Friday, July 27th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $370.00 price objective on shares of SVB Financial Group in a research note on Friday, July 27th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $355.00 price objective on shares of SVB Financial Group in a research note on Friday, July 27th. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $354.06.
SIVB stock opened at $326.21 on Wednesday. The company has a market capitalization of $17.17 billion, a PE ratio of 23.51, a price-to-earnings-growth ratio of 1.71 and a beta of 1.47. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.60 and a quick ratio of 0.60. SVB Financial Group has a 12-month low of $159.44 and a 12-month high of $333.74.
SVB Financial Group (NASDAQ:SIVB) last released its earnings results on Thursday, July 26th. The bank reported $4.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.86 by $0.56. The company had revenue of $659.10 million during the quarter, compared to analyst estimates of $612.75 million. SVB Financial Group had a return on equity of 16.47% and a net margin of 29.56%. SVB Financial Group’s quarterly revenue was up 39.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.32 earnings per share. analysts anticipate that SVB Financial Group will post 17.19 earnings per share for the current fiscal year.
SVB Financial Group Profile
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. Its Global Commercial Bank segment offers deposit products, such as business and analysis checking, money market, multi-currency, in-country bank, and sweep accounts, as well as merchant, remote capture, lockbox, electronic deposit capture, and fraud control services; credit products and services comprising term loans, equipment loans, asset-based loans, revolving lines of credit, accounts-receivable-based lines of credit, capital call lines of credit, and credit cards; and payment and cash management products and services, including wire transfer and automated clearing house payment, bill pay, debit card account analysis, and disbursement, as well as online and mobile banking services.
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